Bank of America Merrill Lynch has put its wealth management
units outside the United States up for sale, three sources familiar with the
situation said, hoping to fetch up to $3 billion for the sub-scale business.
Reuters reports.
Bank of America is the world's largest wealth manager, but
its non-U.S. arm - which two of the sources said manages some $90 billion of
assets for rich clients - is not large enough to generate enough money for the
bank…
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